AskGuru Q&A Community

Hi Jimmy, due to the weak market sentiment, it could take a longer time than usual to get your current 4A unit sold. And that's the problem and you could be some for trouble if that happen after you purchase the EA unit, followed by selling the existing one. Pls feel free to let me know if you need any assistance.

Regards
Aaron
 97308455 
aaronchong2774@yahoo.com.sg Read More

Afternoon Jimmy,

Firstly, you will need to understand that with today's market condition, market a unit might take around 2 to 6 months, subjected to your location, condition and asking price.
Secondly, contra facility is only applicable if your current unit have being serviced using HDB loan and will be using your second HdB loan option for the upcoming purchase. Given the case, HDB would require you to prepare 50% of your current unit's cash proceed, utilize all your available CPF OA, before dishing out the balance (based on purchase or valuation pricing, whichever is higher). In the case that there's shortfall, you will then be required to top up the balance.
Thirdly, if you are looking at bank loan, you can only obtain 50% loan on the initial Letter of Offer. The sub LO will only be issued once you managed to obtain the completed OTP on your sales.
Lastly, in the case that you do not managed to market your unit in time to match the given timeline for purchase, your seller have the ultimate right to request for 'Specific Performance'. This will be then be the final straw.
Therefore, it's always good to work out on your financial standing and other necessary before committing.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi Mr Yeo.
if you are intending to buy first, do note that you will require sufficient cash to pay upfront.
Contra is only applicable if ur current house is under hle & ur next house will be under hle as well. There are many details to understand before you go ahead and place option. Do feel free to give me a call for a detailed discussion. If your price is right, unit will still be sold within 3 mnths. Feel free to give me a call if i can assist you further from here.
Tricia Tan 65 91442664  Read More

Hi Jimmy,

I am in the midst of a negotiation in a transaction similar to yours. Only difference is that the buyer of the property has put up his own property for sale while he just made an offer to purchase the property I am marketing. Critical thing you need to consider will be how much in demand your property for sale could be? Look into the number of similar transactions that has been clocked recently in your nearby precinct against the number of units available for sale currently to do a quick judgement on how fast you can probably liquidate your existing 4A. Next to note will be the recent transacted prices, since most buyers these days will be making offers based on the recent transacted prices. If so, does it fit into your financial plans for this upgrade? If you require the analysis of these numbers, do get in touch with me to provide more detailed information, such that I can assist you better in the decision making process.

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Regards,

Geryl LIM
Real Estate Director
Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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